There is mounting concern in the private sector about what is happening in the Barbados economy.
Days after Central Bank Governor Dr DeLisle Worrell gave his review of the performance of the economy in the first quarter of 2013, chairman of the Barbados Private Sector Association (BPSA), John Williams, has called on Government to take urgent and immediate action to effect some positive change.
He stressed that the island’s level of foreign reserves could be the only thing that determined Barbados’ survival after nearly five years of weak growth and recessionary conditions.
According to the BPSA chairman, Government needed to take immediate action both to cut the hundreds of millions it was spending on state agencies and to improve efficiency.
